§ 10-43-1 Definition of terms
§ 10-43-2 Tax imposed on financial institutions
§ 10-43-4 Time of liability for tax–Rate of tax–Minimum
§ 10-43-5 Income tax in lieu of other taxes
§ 10-43-10.1 Net income defined
§ 10-43-10.2 Additions to taxable income
§ 10-43-10.3 Subtractions from taxable income
§ 10-43-10.4 Carryback of net operating losses not deductible
§ 10-43-10.5 Carryforward of net operating losses deductible
§ 10-43-22.1 Tax limited to income from business within state–Formula for net incomeapportionment
§ 10-43-23.1 Property factor
§ 10-43-23.2 Valuation of property owned or rented–Net annual rental rate
§ 10-43-23.3 Average value determination
§ 10-43-24.1 Payroll factor
§ 10-43-24.2 Compensation paid in state
§ 10-43-24.3
§ 10-43-25.1 Receipts factor
§ 10-43-25.2 Interest, fees, and penalties in nature of interest, discount, and net gain from loansincluded in numerator
§ 10-43-25.3 Fees, commissions, service charges, and other receipts included in numerator
§ 10-43-25.4 Rental property receipts included in numerator
§ 10-43-25.5 Interest, dividends, and net gains from securities transactions included in numerator
§ 10-43-25.6 Receipts from securities used to maintain reserves against deposits included innumerator
§ 10-43-25.7 Receipts from securities held or pledged for public or trust funds included innumerator
§ 10-43-25.8 Affiliated service income included in numerator
§ 10-43-25.9 Affiliated service income defined
§ 10-43-29.1 Alternative apportionment methods
§ 10-43-30 Time for filing annual return and paying tax–Penalty and interest for delinquency
§ 10-43-30.1 Extension of time to file return_Conditions–Interest
§ 10-43-34 Final return on dissolution
§ 10-43-36 Consolidated report of related corporations
§ 10-43-42.1 Administration of chapter by secretary of revenue–Promulgation of rules
§ 10-43-43.1 Records kept by taxpayers–Inspection by secretary–Out-of-state records
§ 10-43-46 False or fraudulent return or information with intent to evade legal requirements asmisdemeanor–Civil penalty
§ 10-43-50.1 Supplementary return required for taxable income increase due to federal adjustment–Payment of additional tax and interest
§ 10-43-50.2 Supplementary return for taxable income decrease due to federal adjustment–Refundfor overpayment
§ 10-43-50.3 Failure to file supplementary return–Secretary’s determination of additionaltax–Interest and penalties
§ 10-43-73 Tax payment as condition precedent to doing business–Injunction againstcontinuation in business by delinquent taxpayer
§ 10-43-76 Percentage of proceeds retained by state–Payment of remainder to counties–Branchoffice remittances kept separate
§ 10-43-77 Apportionment of funds among taxing subdivisions
§ 10-43-88 Financial institution authorized to engage in trust business
§ 10-43-89 Tax on financial institutions engaging in trust business
§ 10-43-90 Determining minimum tax imposed upon financial institutions engaged in the trustbusiness
§ 10-43-91 Tax on trustee of extended term trust
§ 10-43-92 Extended term trust defined
§ 10-43-94 Entities exempt from payment of tax
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Terms Used In South Dakota Codified Laws > Title 10 > Chapter 43 - Income Tax On Banks and Financial Corporations

  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Equitable: Pertaining to civil suits in "equity" rather than in "law." In English legal history, the courts of "law" could order the payment of damages and could afford no other remedy. See damages. A separate court of "equity" could order someone to do something or to cease to do something. See, e.g., injunction. In American jurisprudence, the federal courts have both legal and equitable power, but the distinction is still an important one. For example, a trial by jury is normally available in "law" cases but not in "equity" cases. Source: U.S. Courts
  • Fair market value: The price at which an asset would change hands in a transaction between a willing, informed buyer and a willing, informed seller.
  • Fiduciary: A trustee, executor, or administrator.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Foreclosure: A legal process in which property that is collateral or security for a loan may be sold to help repay the loan when the loan is in default. Source: OCC
  • Injunction: An order of the court prohibiting (or compelling) the performance of a specific act to prevent irreparable damage or injury.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Person: includes natural persons, partnerships, associations, cooperative corporations, limited liability companies, and corporations. See South Dakota Codified Laws 2-14-2
  • Personal property: All property that is not real property.
  • Personal property: includes money, goods, chattels, things in action, and evidences of debt. See South Dakota Codified Laws 2-14-2
  • Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.
  • Property: includes property, real and personal. See South Dakota Codified Laws 2-14-2
  • Real property: Land, and all immovable fixtures erected on, growing on, or affixed to the land.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trustee: A person or institution holding and administering property in trust.
  • United States: when used in a geographical sense, includes the states, the District of Columbia, and the possessions of the United States. See South Dakota Codified Laws 10-43-1